GM and the U.A. W. fail to agree to cut labor costs
It began in an atmosphere of great expectations. Early last month the United Auto Workers and General Motors reached an extraordinary "agreement in principle" to link wage concessions by the union to lower car prices. Intensive negotiations began, faltered once and then resumed again in Detroit last week. Finally, after three straight days of bargaining, the talks broke down. Just 30 minutes before the mutually agreed-upon deadline of midnight Thursday, both sides admitted failure. Said U.A.W. President Douglas Fraser: "We tried hard, and I think the company tried hard, but...